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ABC
Nov 28, 2012 4:00am PST
taxes. >>> the looming fiscal cliff is one reason you may want to take that lump sum. if no deal is reached, and taxes go up, most financial advisers say that could cost the winner millions. >>> and with that fiscal cliff ahead, president obama is mounting a full-court press, making his case for higher taxes on wealthier americans, even as critics accuse him of being back in campaign mode. he'll meet today with mittle-class meshes who taxes will go up if there's no deal by the end of the year. and he talked to high-powered ceos about cutting the nation's deficit. >>> susan rice, who is the front-runner to be the next secretary of state, is back to capitol hill for more meetings with some of her harshest critics. the topic this time, her comments after the attack on the consulate in libya on september 11th. tahman bradley has the latest from washington. >> reporter: u.n. ambassador susan rice faces more tough diplomacy on capitol hill. rice is the leading candidate for secretary of state in president obama's second term. but prominent gop lawmakers are trying to stop her from getting the post. saying she
ABC
Nov 28, 2012 5:00am PST
power ball tonight experts say take the money and run. whatever happens with the fiscal cliff taxes on the very >>> good morning. winds gusting in excess of 30 miles an hour at our coast, wind advisory throughout the entire bay area -- [ inaudible ] wind warning at our coast we could see winds there in excess of 60 miles an hour through 11:00 this morning. >>> we'll continue to keep an eye on those winds. residents on the peninsula will be keeping an eye on a slipping hill slide where a mudslide happened earlier this month. a water main break caused this mess along several streets in daly city november 13th crews have been going around the clock to shore up parts of that hill to keep debris from flowing into the neighborhood daly city has spent almost half a million dollars to repair the damage. >>> in iraq residents of a baghdad neighborhood are cleaning up following a car bombing the blast killed five on a day when insurgents launched taxes against security forces and civilians in central and northern iraq yesterday, 30 were killed, dozens wounded. >>> in egypt several hundred protes
CBS
Nov 28, 2012 4:00am PST
efforts to avert the so-called fiscal cliff, those are the tax increases and spending cuts that will take effect next year. republicans and democrats continue to squabble over raising taxes and sparing entitlement programs like medicare and medicaid. today the president discusses the issues with leaders of major corporations. he met with small business leaders yesterday. susan mcginnis is in washington. >> reporter: while the two sides remain deadlocked president obama is taking his case to the american people trying to drum up support. republicans are complaining that instead of being out campaigning he needs to sit down with them and work out a deal. it's a short drive up pennsylvania avenue from the capital to the white house but congressional republicans and president obama are getting farther apart in their effort to keep the nation from veering off the so-called fiscal cliff. a series of tax hikes and spending cuts due to kick in at the end of the year. >> seems like our friends on the other side is having difficulty turning off the campaign. >> reporter: the white house says t
CNBC
Nov 28, 2012 2:00pm EST
dividend to be paid before the end of the year. if we go over the fiscal cliff at the end of the year, that tax rate on dividend goes from 15% to just over 43%. i think it is safe to say that there is bipartisan support among investors and shareholders for those special dividends now and not seeing that dividend tax rate skyrocket after the end of the year. >> it does seem to make sense. hampton pearson, thank you very much. >>> now, let's get back to our recovery road trip to atlanta where we find you once again, brian. >> thanks, mandy. in fact, the ceo of the company we're going to speak with right now just raised their dividend a couple of weeks ago by 50%. that is null rewell rubbermaid, of the five best performing in the atlanta intext. michael polk, thanks for coming on cnbc. you guys raids tsed the divident heading towards the end of the year, any thoughts of a one-time special big dividend? >> i don't think we'll go down that paths. of course that's the board's -- at their discretion. i doubt they'd choose to do that. we increased the dividend 50%. it is the second dividend increase we've t
CBS
Nov 27, 2012 5:30pm PST
days. that is the so-called fiscal cliff: automatic tax increases and federal budget cuts that will be imposed unless president obama and congress can make a deal on budget reform. not even everyone in the president's own party is with him on this and nancy cordes is on capitol hill for us tonight. nancy? >> reporter: scott, a rift has opened up between the white house and liberal democrats over what should be on the table in these talks. some democrats even say they're willing to let all the bush tax cuts expire, at least temporarily, even if they don't get the deal they want. senator patti murray of washington state is one of them. she says negotiations should focus far more on raising tax revenue than cutting spending. republicans are calling democrats like you "thelma and louise" democrats because you've expressed a willingness to go off the fiscal cliff. >> i'm willing to take a very tough stand and say to those on the other side that we are not going to accept an unfair deal that hurts middle-class america today and protect the wealthiest americans. period. >> reporter: in the
CSPAN
Nov 28, 2012 6:00am EST
forward to solve the fiscal cliff raises taxes on a million small businesses who employ 25% of the work force and an accounting firm has done a study has said if the president's proposal went into effect which is to raise taxes on the small businesses out there that it would cost us over 700,000 jobs and reduce take-home pay by 2% and reduce economic growth by 1.3%. what the president is proposing to do would hurt jobs and the economy, which is again, i ironic in that the president's only solution to solve our fiscal cliff issue is to raise taxes. in 2010, we had the same debate. raise taxes in the middle of a weak economy. at the time economic growth was 2.4 through the first three- quarters. number is 1.8%. the president said you shouldn't weak economy. has to lead on this issue. on people who create jobs in this economy if it is about jobs and the economy. and we all know what drives federal spending in this countryand we have seen no proposal from the president when it comes programs and getting them on athere is a solution out there, solution is to raise taxes on the very peop
FOX Business
Nov 28, 2012 9:20am EST
we're going be to be down nearly 40 points. of we have this fiscal cliff and it's a deadline, the tax increases and more huge spending cuts it seems like the two sides are on impasse it looks likes it's shifted to entitlement reform or cuts and no serious movements in the negotiations and check the big board, the opening trenddis down and we're looking for a 40 point loss when things get moving. i've always said that green mountain coffee, a great day trader's stock, huge volume in the past, and even more so today, after the company raised its forecast of how much money it's going to make in the future. look at that, nicole, was that 20%? >> oh, my goodness, what a day for green mountain coffee roasters and come out with numbers that beat on the top and bottom line, an outlook beyond the analyst expectations and their keurig and single k-cups of coffee are doing so well and you and i know a the lot of folks have been shorting the stock, but i just look back to 2003, and their performance, it's up every single year, with the exception of 2008 where he lost 5%. stuart: amazing. >> and that's grea
FOX Business
Nov 28, 2012 4:00pm EST
caucus? she has abercrombie breathing down their necks and a fiscal cliff, certainly weakening the consumer, as we get closer there are a lot of things, despite how good the quarter was i would be shaking in my boots because there's a big tax bill coming come january and a lot of retailers should be scared and cautious. dave: you say the time to buy all equities is right now. why is now the best time? >> the market over the next six months could reach $15.76, the s&p 500 reach of $15.76 which was the financial bubble, we are seeing good market fiscal cliff issues get resolved maybe 20% -- dave: what if they don't get resolved? >> they will delay the decision at this point and over the next three to six months resolve fiscal cliff issues that there will be resolution. liz: you save $15.76 at $14.09 at the moment. how do we get there? that is a lot of optimism. we need to that market fuel. >> we believe over the next six months the market can reach the financial bubble high we made many years ago and we think this is a great time to invest, this correction was absolutely a time to put money to work. laugh at apple. apple is down 25%, up 60 points from a closing day local days back, we are bullish here. dave: just getting news by
FOX
Nov 28, 2012 4:00am PST
automatic fiscal cliff increases, could more than double. many investors believe that no matter how the fiscal cliff situation is resolved, dividend tax rates will likely increase in 2013. jamie dimon is getting public praise from billionaire warren buffett. this week on charlie rose, mr. buffett said he thinks mr. dimon could be the "best person for the job" after treasury secretary timothy geithner steps down. mr. buffett notes that dimon could deftly handle another financial crisis, even though jp morgan was forced to take a government bailout during the financial crisis and dimon came under question earlier this year, when the bank lost 6 billion dollars in a trading blunder. cyber monday could almost be re- named "mobile monday." a growing number of consumers used their smartphones and tablets to shop on cyber monday this year. it contributed to an overall bump in sales of 30% from last year. comscore is estimating that sales will reach a whopping 1.5 billion dollars. amazon's kindle fire was the day's most searched-for gift on the web. others that were high in demand were uggs, ipads, the ipod touch, legos, and the wii. some consumers
CNBC
Nov 28, 2012 4:00am EST
offensive. but congress remains at odds to avoid a budget deal to avoid the fiscal cliff. markets were spooked yesterday when harry reid said little progress has been made. the president today speaks at about 11:30 eastern on how potential tax hikes will hurt the middle class. obama will meet with the second group of ceos at 4:45 p.m. to get their input on how to solve the crisis. the group will include brian roberts, and yahoo!'s marisa meyer. for more, we're joined now by charles deebel. the president meeting today over the fiscal cliff. really the reason for the underperformance we've seen, not just in u.s. equities, but actually worldwide overnight. >> i think so, i think there's really a reevaluation with respect to europe going on as well, and having had a greek solution. and then they start to look at the rest of the eurozone, particularly spain. so you deal with one issue, but there are still plenty more stacked up behind. so that didn't help. but yeah, those comments clearly not constructive. it is the number one problem now having got to greece effectively out of the way, spain is on the back burner. the u.s. fiscal cliff is the worry at the moment. >> for all the time we've already spent talk about it, the reaction see
FOX News
Nov 28, 2012 10:00am PST
everyone, is that there is a deadline on the so-called fiscal cliff which is if you don't deal with those tax changes in short term. then you go off the cliff. and that could have a strong impact on the economy meaning the white house believes there will be a political backlash against republicans if the president can blame them for going over the cliff and holding out. we'll see, there may be republicans like john boehner and eric cantor say we are not going to give in and maybe we'll go off the deliver. earlier todayers ski today -- es said there is a chance we are going over the cliff. that can rattle markets. megyn: a new piece of polling from rasmussen reports suggests that half -- suggests a growing number of americans are worried the economy will be worse off a year from now. 50% express that concern. that, 27% increase from october. just 34% think the economy will be stronger. that pop comes as one of the writers at "forbes" magazine identified a phenomenon called the death spiral states. these are 11 states where private sector workers are outnumbered by people dependent on the government. i
CSPAN
Nov 28, 2012 1:00am EST
rice. senate majority whip david gergen on negotiations to work an appeal on the so-called fiscal cliff. after that, more from senate leaders who spoke with reporters after party lunches today at the capitol. later a discussion on how wall street investors are preparing for the possible tax hikes and budget cuts. now, republican senators on their meeting with you in ambassador susan rice on the attacks in libya that killed four americans. >> a very candid discussion with the director of the cia. we are significantly troubled by many the answers we got. the evidence was overwhelming leading up to the attack on our consulates. whether ambassador rice was informed sufficiently is a correct depiction of the events that took place. but the intervention was incorrect when she said it was a spontaneous demonstration. it was not, and there was compelling evidence that the time that that was not the case, including statements by libyans as well as other americans. mortars and rocket-propelled grenades were not spontaneous demonstrations. >> i think it does not do justice to the reality at the time and in hindsight, -- in real time [indiscernible] anybody looking at the threat in libya, it would jump out at you. i am disappointed in our intelligence community. with a little bit of inqui
CNN
Nov 28, 2012 9:00am PST
cliff. it's a serious issue. not to everybody, though. one of our ireporters said the word "fiscal cliff" to her baby. watch the reaction. >> fiscal cliff. fiscal cliff. you think that's funny? fiscal cliff. debt ceiling. tax cuts. fiscal cliffs. >> that's 5-month-old mace john jackson and tax hikes and now the president and dan lothian from the white house, how is the president handling this? he's probably not doing as much laughing. >> reporter: what you saw today is the president bringing in americans. he says they will be impacted if the middle class tax cuts are not extending. they sent a message out there to republicans saying that they need to come on board and support this effort. republicans pushing back thinking that they don't think the upper income americans should see their taxes go up. what the president said to those who were here and those watching, put pressure on their lawmakers to support pushing out the bush era tax cuts for just middle class americans, not just through this effort but to text, to call, to send a fax, even twitter and the white house coming up with y2k referring to the amount of average middle class families would see their taxes go up by the white house says, $2200. so the
CNBC
Nov 28, 2012 3:00pm EST
the tax man comes based on the unknowns of the fiscal cliff. >> would you buy gold here, michael? >> no, no. i'm going wait for it to wash out a little more. then i'm going add to my positions. i have a -- >> you don't weigh gold outright. >> you have to own some gold. qe-4 is coming. no doubt about it. they're already doing $40 billion per month. it's going to be $85 billion of unsterilized counterfeiting per month starting january 1. how do you abandon gold in that premise? >> that's exactly right. we're playing it a little bit differently. we like some of the gold-related companies. >> the miners have gotten beaten up. they got beat up much worse than the actual metals. >> there's cost and exploration you have to factor in. >> are those your best ideas? >> no, actually. i think you can still -- i'm half if cash. i think you can look for areas to enter in o short position on lockheed martin. >> defense stocks because of the fiscal cliff. >> yes, but once that gets solved, i think you have a huge rally in early 2013. then you're left with the real facts, that we're massively acc
PBS
Nov 27, 2012 4:30pm PST
were more concerned about the debt problems in europe and the fiscal cliff crisis here in the u.s. stocks fell late today after senate majority leader harry reid said lawmakers are making little progress in resolving the stand-off over tax increases and spending cuts. the dow fell 89 points, the nasdaq lost nine, the s&p 500 down seven. >> tom: as susie mentioned, talks to resolve the fiscal cliff are moving slowly. one reason is that there is deep disagreement over whether entitlement programs like social security and medicare should be on the table right now or not, and the disagreement is sharpest over social security. darren gersh takes a look at why. >> reporter: the number-two man in the senate democratic leadership argues any fix for social security's finances should come after the immediate challenge is out of the way. >> i think we should take social security off the table for the current fiscal cliff and deficit discussion, but be very honest about what we're going to achieve in the near term. >> reporter: republicans pushed back, arguing social security is part of the deficit problem because it is no longer taking in enough in taxes to cover the benefits it pays out. social security makes up the difference by cashing i
ABC
Nov 27, 2012 5:30pm PST
to the other battle brewing tonight, the clock is still ticking on the fiscal cliff. 35 days, taxes including on the middle class, will rise in america unless congress reaches a deal. abc senior white house correspondent jake tapper tells us the latest on this duel that would affect every single american family. >> reporter: the manufacturers of these angry birds building sets in pennsylvania will later this week be visited by president obama as he makes his case for raising tax rates on wealthier americans as part of a larger deal with congress. and while the president is not trying to provoke anger necessarily, he is trying to drum up passions for his proposal. meeting with small business owners today such as texas crop duster manufacturer, david ikert. >> there was a lot of talk in the room about certainty. small business wants certainty so they can plan, strategically look at how we move forward. >> reporter: and releasing these showing them pleading for their tax cuts to be extended. >> if you take away the $2,200 from my paycheck, it would severely impact my family. >> reporter: while t
CSPAN
Nov 28, 2012 7:00am EST
hour of today's show we will be turning our attention to parts of the so called "fiscal cliff" negotiations. today we are focusing on the bush-era income taxes. we're having a roundtable discussion in our last hour from a democratic and republican perspective on that. so stay with us. madeleine in thousand oaks, california, republican. caller: i am the wye fire the teacher. i feel i am an independent republican. -- i am the wife of a teacher. in california we feel we have too many administrators. the teachers need time to get further education and that should be demanded. there are teachers who should not be there. but there are parents who are very aggressive who come to school and have come on the playground and have hit the teachers. the teachers have insurance if something happens. one student came to school with her mother is underpants. it's not only the military that get tempted, but teachers get tempted also. host: we have a line set aside for educators this morning. we want to hear from them as well as we continue this discussion on how you would fix your school system. yesterday in washington recovered an event with florida governor jeb b
FOX Business
Nov 27, 2012 9:00pm EST
capital gains. compies trying to get a jump on the fiscal cliff. details and the oracle of all my speaking out on tax policy. next, i'll break down why warren buffett is just plain wrong. ♪ gerri: warren buffett is getting a lot of attention this week for his comments on the fiscal cliff . basically, the investing mobil says it rich people, that is people like him, should pay more in taxes. it sounds magnanimous. i believe the case he builds for higher taxes, well, the reasoning as a big hole in it. here is why. the contention that rich people willtop hiring is nonsense. we already know that more than a million americans to employ people and paying there taxes through ere individual income-tax. according to the heritage foundation, the amount their taxes would rise would be equivalent to one employee salary. one person there would not hire. we will what is more, rinsed and young says these tax hikes would kill 710,000 jobs. buffett also says that rich people will stop investing. again, nonsense. when you tax something usually get less of it, like cigarette taxes to curb smoking or carbon tax to curb carbo
FOX News
Nov 28, 2012 3:00pm PST
they avoid the fiscal cliff, by extending middle class tax cuts and raising taxes on the rich. >> it would give us more time than next year to work together. on a comprehensive plan to bring down the deficit, streamline our tax system. do in a balanced way. >> the president apparent shift away from spending and tax altogether now in a big deal could increase the chances of a market rattling fall off the cliff. since the republicans want spending cuts included. >> republicans are willing to put revenue on the table. but it's time for the president and democrats to get serious about the spending problem that our country has. >> the president's move came one day after two other big developments, suggesting democrats want tax hikes on the rich now, with the promise of cuts to programs like medicare later. on tuesday, senator dick durbin flatly declared entitlement reform should not be on the table. yesterday, top white house officials also met with leading liberal groups, from labor unions to moveon.org. with one attendee telling the "washington post" they expect the taxes to go up on th
FOX News
Nov 27, 2012 7:00pm PST
work, ready to solve the issue of the fiscal cliff. what the president wants to do, however, is to raise taxes on small businesses, almost a million small businesses who employee 25% of the workforce. that's his proposal. republicans cannot be for that. the president said in his press conference right after the election that his number one priority is jobs and the economy. we agree with that. but if your number one priority is jobs and the economy, you don't grow the economy and create jobs by raising taxes on small businesses, the very people who create those jobs. >> greta: white house press secretary today jay carney when asked when the next meeting with congressional members would be, the answer was, quote, it would come at the appropriate time. >> nobody knows what that means. >> greta: that's my point. look, all of you have had a vacation, campaigning, doing that for the last three months. you've been about this fiscal cliff for a year and a half. now the president is going out to do, as you say, campaigning. the press secretary says there will be a meeting between leaders at the appropriat
FOX News
Nov 27, 2012 10:00pm PST
, republicans are ready to go to work, ready to solve the issue of the fiscal cliff. what the president wants to do, however, is to raise taxes on small businesses, almost 1 million small businesses who employ 25% of the workforce. that's his proposal. republicans cannot be for that. the president said in his press conference, right after the election, his number-1 priority will be jobs and the economy. we agree with that. but your number-1 priority is jobs and the economy you don't grow the economy to create jobs by raising taxes on small businesses, the people who create the jobs. >> white house press secretary today, jay carney said when he was asked when the next meeting would be, the answer was, it would come, quote at the appropriate time. >> well, nobody know what is that means -- >> no! that's my point. is that -- is that, you know -- look, all of have you had a vacation, i refer, to while you are campaigning the last 3 months. have you known about this fiscal cliff for a year and-a-half. now the president's going out, friday, to do, as you say, campaigning. the press secretary says there will be a meeting between the le
FOX News
Nov 28, 2012 12:00pm PST
fight over the so-called fiscal cliff has gone from negotiations to playing out in public. today the president laid out the plan to step the looming tax hike in a public push that seemed like a campaign event. president obama meeting with a group of what he described as middle class americans, and repeated the argument for raising taxes on families earning more than $250,000, a plan which republicans so far reject. the president said the re-election shows a majority of americans support his approach. >> not just democrats but also a lot of republicans and a lot of independents agreed we should have a balanced approach to deficit reduction that doesn't hurt the economy or hurt middle class families. glad to see if you have been reading the pains more and more republicans in congress are agreeing with this idea we should have a balanced approach. >>shepard: he referenced some in the g.o.p. who signal they could be willing to play bull. the republican leadership still is insisting they will not consider tax hikes. >> republicans are willing to put revenue on the table the it is time for the president and democrats to get serious on the spendi
Comedy Central
Nov 27, 2012 7:00pm PST
peabody people are watching i'm ready to submit. what's everybody talking about? >> the fiscal cliff. >> stephen: fiscal cliff, yeah. >> trillions of dollars of spending cuts and tax increases that are going to happen when the ball drops on new year's eve unless president obama and congress come to some sort of compromise. >> stephen: all right so, we're all doomed. >> it's like the movie thaw you have to either cut off your arm or die. so they will come-- they will cut off their arm. >> stephen: do you know, do you know what kind of ratings the news could get if they could get politicians to cut off their arms on camera? okay. -- (cheers and applause) >> stephen: as i said senior white house correspondent for abc news. the only news anybody watches any more. >> i think that's true. >> stephen: and you have got eye new book here called the outpost, an untold story of american valor. this is about the war in afghanistan. >> it's about one combat outpost in afghanistan, 14 miles from the pakistan border, built at the bottom of three very steep mountains, built in 2006. and overrun in 2009 by the taliban. >> stephen: let's put a picture of this space right here. >> that's it.
CBS
Nov 28, 2012 4:30am PST
-called "fiscal cliff." a series of tax hikes and spending cuts due to kick in at the end of the year. >> seems like our friends on the other side are having some difficulty turning off the campaign. >> reporter: the white house says the campaign gives the president support from the american people. >> the election was conclusive in terms of which path a majority of americans want to take. >> reporter: president obama will try to build support when he meets with middle class americans here in washington today. he will ask them how the "fiscal cliff" could impact their lives. on tuesday, he invited small business owners into the oval as of to offer their ideas. >> they had one message for the president at the oval office, they need certainty. please get this deal done as soon as possible. >> reporter: but spend anytime on capitol hill and it's easy to see a deal isn't forthcoming soon. >> there's been little progress with the republicans, which is a disappointment to me. >> their hard left doesn't want to change anything ever. they think any dollars spent or any commitment made by the
FOX Business
Nov 28, 2012 1:00pm EST
fiscal cliff wall to get the dividend ahead of the higher tax rate, so costco joins many come over 100 companies that have done much of the same. paying out dividends so you can pay less taxes. melissa: thank you so much. lori: so thoughtful of the company. president obama invited middle-class americans to the white house to showcase those would be most affected a certain tax cuts are not extended. peter barnes live at the white house. >> 85 middle-class taxpayers joining the president at this event part of a pr push to drive them to extend tax cuts for middle-class taxpayers let them expire for wealthier taxpayers. take a listen. >> optimistically i don't think we will get it done tomorrow. but if everybody here goes out of their way to make their voices heard and spread the word to your friends and families and coworkers and neighbors, i am thoughtfudoubtful that we will t done. >> the president meeting with 14 ceos, second such meeting in the last two weeks including the ceos of yahoo, merck, coca-cola and at&t. and lloyd glenn fine, the ceo of goldman sachs said i believe tax incre
FOX
Nov 27, 2012 5:00pm PST
obama tomorrow about the fiscal cliff. the fiscal cliff is a combination of tax hikes. democrats want to raise taxes on high income earners but republicans oppose the proposal. >>> stanford researchers say a high tech tool developed in the silican valley can help curve the growth of tuberculosis in prisons. the stanford researchers say the tool can be especially used in prisons in the former soviet union where they say tb is rampant among inmates. >>> the elevated breast cancer risk here in marin county turns out not to do so special. what researchers have discovered around the rest of the bay. >>> back here in 10 minutes we have a wind event coming tomorrow, we have rain coming tomorrow right on the morning commute. i'll time it out with the latest computer model. >>> attacking graffiti with heavier penalties. why a policy change to deter taggers can also hurt area businesses. >>> these lights are about to go up on high wire and it's going to impress the world. >> the pressure that caused a cruise line to back up on their ban of dressing in drag. when i take a picture of this check,
CSPAN
Nov 27, 2012 8:00pm EST
talk about the fiscal cliff, some talk about austerity, bomb, others talk about what needs to be done to lift the debt limit. and all of these issues are before us. tax increases are not. but underlying all of that, foundational to all of that, is putting america back to work. getting americans back into their jobs. if we do that we will clearly increase employment and when you increase employment you always increase tax revenue to the federal government, to state governments and local governments. so our principle task as i see it and i think i'm joined by many of my colleagues, both democratic and republican, is to get the american economy going. to put it back in gear. and there are many reasons beyond just employment and the opportunities that family have -- families have to make it. one of the critical elements in all of this is to protect americans. we recently saw superstorm san joaquin smash into -- sandy smash into new jersey and new york with devastating results. loss of life, incredible loss of property, both public and private, and a very, very big cleanup bill. joining me in a little while will be some of our representatives from the state of new
CNN
Nov 28, 2012 1:00pm PST
defer medicare for example -- medicare reform until after you get a deal on the fiscal cliff? >> well, if we do that, wolf, i think what you have to do is also defer the issue of taxes. i think you extend tax rates some time into the foreseeable future whether that's six months or a year and allow us to go through the process where we can deal with entitlement reform and tax reform in regular order. i don't see republicans supporting something up here that deals with taxes that doesn't have entitlement reform incorporated into that. so i think right now we're a little bit of a standoff, but the way to solve this would be of course to extend the existing tax rates which is by the way something the president agreed to two years ago when economic growth was stronger than it is today. at that time he said we shouldn't be raising taxes when we have a weak economy. that would be a bad idea. growth today is significantly lower than it was two years ago when he made that statement. we agree it's about jobs and the economy. that's what the president said after the election that he wanted it to be his goal and his priority. we have a difference of opinion about how to get the ec
CSPAN
Nov 28, 2012 5:00pm EST
and the democrats who listen. i believe we should have the negotiations on the fiscal cliff. that's two things. $500 billion tax increase, the 2001, 2003 tax cuts lapsing and sequestration of spending restraint. it is a good thing, but saving $100 billion, -- >> not a common republican point of view. a lot of defense cuts. >> the head of the conservative caucus, 60% of most conservative guys in the house, jim jordan said the only thing worst than the sequester would be not having the savings and you saw mitch mcconnell saying we aren't ending the sequester. people are drawing lines in the sand -- let's try to cut to it. >> it has to be on c-span only then would the president have to say and boehner would say your spending cuts are what? cbs and nbc hasn't done that. and he was wandering around and if you look at the savings in this budget, $800 billion for not occupying iraq. and he cuts that as part of the savings. he counts of the savings, then you can't have the situation where republicans get why don't you raise taxes all day and no focus. once the bill is written, it needs to be online so everybody can go on their
MSNBC
Nov 28, 2012 2:00am PST
tax hikes and budget cuts from the so-called fiscal cliff. the president met with small business owners on tuesday to talk about the effect on their companies from taxes and other charges. right now congress is stalled over finding a solution as democrats demand higher taxes for high wage earners while republicans want cuts to entitlement programs. and last night on hardball, former republican senator alan simpson gave his thoughts on the fiscal cliff and failure of lawmakers to reach an agreement. p. >> they love their party more than they love their country. how it we get to that point, don't ask me, but the whole business of reform and money in the campaign and beat up the guy, and it's not a case of who wins. it's you want to be sure somebody loses. and i say to people whether it's grover norquist or whatever, lord's sake, if you can't step up to the plate, what can happen to you? they can't murder you, they can't burn your house. the only thing they can do is defeat for you re-election by throwing some coo-coo from the left or right on you and if that means more than your country when it's extremity patriots instead of panderer, you shouldn't even be
CNBC
Nov 27, 2012 11:00pm EST
in the face of the fiscal cliff. perhaps the majority of the people who were polled are oblivious to the dangers of the fiscal cliff. maybe they don't know what it means. maybe they don't know about the tax increases that await us. do they know about the layoffs and the take away of the stimulus? are they foolish and brave? smug, we won't go back into a recession? perhaps obtuse. like the warden in "shawshank redemption." first off, we shouldn't be putting that much faith in the consumer value numbers to begin with. it was right at the beginning of the breakdown of society as we know it. sure, they were confident. but they were wrong. great depression was right around the corner. second, many people polled were paying no income taxes. we know that 47% of the people in the country were paying the rates. but a lot of people in the country, cohort small and it is a small part of the survey. maybe the wealthier people haven't assessed the impact, given how difficult the tax code is to comprehend. i have been trying to figure out what it could be. that makes me cautious. third, it is possible we are overstating the whole fiscal cliff issue. there are people who calculate how much they would owe. they a
CNN
Nov 28, 2012 8:00am PST
to the fun stuff. we have heard a lot about the fiscal cliff. i mean you're probably sick of hearing that term fiscal cliff, debt ceiling, tax increases. got a lot of us worried that we're at the mercy of a feckless congress behaving more like stubborn kids than responsible lawmakers. wait. we did promise you a dream off the top of the show. imagine for a moment what it would be like if none of this fiscal cliff nonsense mattered the least bit to you. no debts. no family budgets. and a half billion dollars worth of powerball dreams. that is the jackpot, folks. the powerball jackpot. it just so happens to take millions of us buying up tickets to fatten up that jackpot to that big old size. alison kosic is at a 7-eleven in new york basically meeting a few of the wanna-be one percenters. the truth of the matter, what are the odds? >> reporter: i know. i hate to throw cold water on your whole dream statement that you gave. yes this is all about dreams but you know the odds of winning are really low. 175 million to 1. those are your odds. you know what? i can't help but dream, too. i got a ticket here. one ticket, it could be the winning o
MSNBC
Nov 27, 2012 8:00pm PST
ceiling now as part of the fiscal cliff negotiations and not later. also today, aflcio local leaders from 33 states are putting pressure on congressional lawmakers to let the bush tax cuts expire for the wealthy and keep social security off the table. let's turn to james hoffa, general president of international brotherhood of teamsters. always a pleasure. good to have you with us. sometimes when you get politicians and supporters and voters, it's like hurting cats, so to speak. everybody goes in their own direction and they all want their own thing. how do you feel right now about the unity of where this is going for the democrats? what's your understanding of how the white house meeting went today? >> right now, people are saying we have to stand tall. we had an election. these were the issues in the election. what organized labor is doing is urging this administration to stand tall. that was the message that was delivered today. we won and these were the issues. they wanted to send you a voucher for your medicare. they want to reform basically everything and take it away. we won the election. now we have to stand tall to make sure we protect the safety net of medicar
CNBC
Nov 27, 2012 7:00pm EST
didn't know better. i know you don't want to talk about the fiscal cliff, but that is a lot of what is weighing over what policy is going to be. regarding regulation and taxes. profits are slipping and many believe profits are going to continue to clip? the profits are or earnings clip. i'm worried. they are falling. earnings are flattening out. one of the biggest problems that i'm having is there doesn't seem to be a lot of fear or talk about it. if you look at the fear in the marketplace it is low. it tells me two things one people don't know what is going on or they are not drinking the kool-aide and feel nothing is going to happen. the earning's story is still in tact. look at what is happening in china. they are in the middle of a soft landing. by the time we get to the point where we see valuation become the story again, we could see the market again. >> i think it is a lousy way to determine the role in washington. it seemed to come around the time of the bickering. so maybe that is the case. i mean i got to believe. i may not like the deal because taxes may go up, but the fact is, some deal is probably going to be made. i ask you, if there is a compromise, w
FOX Business
Nov 28, 2012 12:00am EST
about the government and who is going to win. the fiscal cliff debacle,% just when it seems like some movement was being made we're hearing a new idea that could derail all of it, a hike in the federal gas tax. we're going to -- are we going to see higher prices as a result of this deal? with me now is senator jim inhofe. welcome to the show, thanks so much for coming on. >> nice to be with you, mole list is a. melissa: what do you think, a higher federal gas tax. this was getting a lot of buzz throughout the day today. do you think it is a real possibility? >> no. well, yeah it has a possibility but melissa, you have to keep in mind, they're doing this because the only popular tax around is the gas tax. people assume that the money when they pay at the pump and goes into the highway trust fund it will be used to build roads and bridges to maintain. that is popular thing. people think we need that. so to me it is deceptive to load the extravagance of the obama administration to be paid off by people paying a gas tax. melissa: yeah. >> they did it, probably didn't know this. they did it in 1990. did in 1993. about a nickel increase each time. at that time almost doubled the gas tax. melissa: so inc
CNN
Nov 28, 2012 4:00am PST
america near you. >>> republicans have been adamant in the fiscal cliff talks, saying the democrats have put entitlement, social security, medicare, medicaid, on the table, if they want the gop to budge on more tax revenues. but now, one high-ranking democrat says entitlements should be off limits until the whole fiscal cliff mess is behind us. senator dick durbin joins us this morning. always great to talk to you. appreciate your time. >> thanks, soledad. >> now with this latest development, how hopeful are you that, in fact, a deal is going to get done? and what would that deal look like? >> well, we should reach an agreement. the point i made was, when it comes to medicare, we know that it's going to run out of money in twelve years. whatever changes we want to make should be thoughtful changes. not made in the heat of the fiscal cliff. not done in the closing days here, of a lame duck session. let's look at this thoughtfully and make sure at the end of the day medicare is going to survive and be stronger. but i think there is plenty of ground here for us to come together as democrats and republicans, the congress and the president, and avoid the worst parts of the fiscal cliff. >> okay, so what entit
FOX
Nov 28, 2012 6:00am PST
looming fiscal cliff. they are saying taxes will go up if congress does not act. >>> still on the scene of a fire that may have been intentionally started inside a classroom at alameda high school. brian flores joins us with more on why the fire was considered suspicious. >> reporter: it looks like police investigators are here now continuing to gather any evidence they can from this suspicious early morning fires. now let's go to video we shot earlier this morning. according to investigators, the fire started roughly around 3:00 a.m. this morning and one of the classrooms had flames coming out of it from a nearby window and they quickly put it out but what they found was one of the windows was opened and it leads officials to believe it is suspicious in nature. >> we had a fire alarm at the alameda high school and we came here and found a fire and put the fire out and the fire is suspicious in nature. >> reporter: now in terms of damage several books were burned and a window was damaged. police believe there may have been smaller fires but police investigators are here piecing th
NBC
Nov 28, 2012 5:00am PST
pennsylvania, to a toy manufacture there, talkinging about how do we avoid the fiscal cliff. spending cuts and tax increases that go into effect at the end of this year in congress does nothing right now, behind the scenes. the negotiations, not a lot to report. >> tracie pots, thank you very much. >>> checking on that rain. 5:43. the first of the storms rolling in. certainly packing a punch. we have a team in place watching the sky and roads for you. how's it looking there? >> good morning. so far, so good, for one of the most dangerous highways in the entire state of california. traffic is starting to pick up as we approach the 6:00 hour. traffic heading over the hill into san jose. northbound 17 is picking up. but no problems to report. i've been checking with chp throughout the morning. so far, so good for their patrol cars. the wind is more of a problem atop the summit. we're about 1,800 feet up and the wind is picking up from time to time but still not too bad. not too bad but gusts expected between 30 to 40 miles an hour. what does this mean for you? if you have a high-profile vehicle, we're talking
NBC
Nov 28, 2012 4:00am PST
the tax hikes and budget cuts from the so-called fiscal cliff. the president met with small business owners yesterday to talk about the effect on their companies from taxes and other changes. and right now congress is stalled over finding a solution as democrats demand higher taxes for high wage earners while republicans want cuts to entitlement programs. >>> elsewhere on the hill, u.n. ambassador susan rice spent her day behind closed doors explaining statements she made back in september about those deadly attacks on the u.s. consulate in libya. her defense failed to convince her republican critics. nbc's tracie potts is on capitol hill with more on this. tracie, good morning to you. >> lynn, good morning. rice admitted that when she said the ambassador and three others who were killed were the result of spontaneous attacks, the information was partially wrong. as she has done before, in a statement after her meeting, she blamed it on bad intelligence information, talking points where references to al queda had been taken out according to sources and attacked changes to demonstrations, despite the defense from the white house, despite her sitting down with
FOX News
Nov 28, 2012 6:00am PST
feel like too much of the discussion in washington related to the fiscal cliff has been about increasing tax revenue. they want to make sure that entitlement reform is truly on the table. they are bringing in former bill clinton white house chief of staff erskine bowles who has done a tremendous amount of work shall on dead issues in recent years. he had his own individual plan last year which looked at adjusting the medicare eligibility cage and making adjustments to social security. weapons have to be encouraged by editorials out today. in "the washington post" says since 60% of the federal budget goes to entitlement programs there is no way to achieve balance without slowing the rate of increase of those programs. usa today also has an editorial out which says, quote, social security represents more than one fifth of federal spending, much too big to ignore. the sooner these changes are made the less painful they will be. you can expect republicans to hammer those points home today, martha. martha: it's a question of whether or not we are going to establish any real change or reform that will imp
MSNBC
Nov 28, 2012 9:00am PST
tax cuts. we have a fiscal curve/cliff/mole hill, however you choose to describe it, that includes, of course, the bush tax cuts, but also, the bigger piece is sequestration and the payroll tax cut again. another fight the president has had before. what do you make of his focus only on the bush tax cuts and specifically the middle income earners. >> this was a theme throughout the campaign, something he came out early on and hit hard on. it underscores this larger issue about inequality in this country which is an economic problem. you can't have a sustained recovery when 98% of the population hasn't gotten a raise in the last few years or decades depending on who they are. i think people are starting to focus on that. i think this issue of taxes is crucial of that. i think if we're going to go to the other cuts that need to happen, the entitlement reform you need to have a sense from the population that the rich are doing their part, that there is a sort of social cohesion. you can look to europe and see what happens when you don't have that. >> the president spoke in his comments
CNBC
Nov 28, 2012 5:00pm EST
after time. you have the election, you have fiscal cliff, you have tax policy. people still don't know -- it's such a tough trading environment for professionals. so the retail investor takes his money, takes his chip off the table. >> we should know too this data is mutual funds plus etfs. we don't know what the breakdown is at this point. it could be mostly etfs which could be the vehicle as opposed to a retail investor who holds most of his or her stock holdings at any one time in retirement savings. >> but we have seen flash crash. if you talk to the average investor, a lot of the stuff is so confusing as i said before to the professional trader that the retail investor can't help but say, you know what? let me just wait one more month. >> and you actually saw this over the last month, and the day after the election when we had the big selloff, you did not see the bond market respond at all, or at least very little. the market was down, the stock market was down 1%, 2%, the bond market barely budged. in the past, that would mean generally speaking you have that asset allocatio
FOX News
Nov 28, 2012 2:00am PST
have a little time before fiscal cliff. lack of progress. >> we are a little over four weeks away from the fiscal cliff and still no progress. there is a massive tax hike in spending cuts, it only intensifies on comments by harry read essentially confirming the budget talks still remain worlds apart. the dow down nearly 90 points. >> this will be a big topic in the future. college loan debt. that could be the next housing bubble. >> the federal lending making college education to any one is really only creating a pile of debt so large that since 2007 it has risen 56 percent while other forms of debt like auto debt mortgage debt that declined. u.s. student debt rose $950 billion according to the federal bank of new york. now 11 percent of those balances are at least 90-days late. that is higher than credit card late payments for the first time in history. >> if the student continue to default that is the u.s. taxpayers picking up the tabs. >> most of the student debt is in the grace period so the number is probably even higher. >> we will keep following that one. christmas air fares are expected to be up. airlines continue to gouge us. >> you will pay 8
ABC
Nov 28, 2012 7:00am PST
fiscal cliff, of tax increases and spending cuts, looming at year's end. today, that and president obama will meet with a group of middle-class americans, hoping to convince congress to protect tax cuts for families earning less than $250,000 per year. >>> it will be another tough day of questioning for susan rice, the likely nominee to replace hillary clinton as secretary of state. rice, facing critics for a second-straight day. they say she misled the public after the attacks in libya. rice said she was using the cia information available to her at that time. but after talks yesterday, republican senators, including john mccain, say they are even more troubled, now, about rice's responses. >>> and after the repeal of the don't ask/don't tell ban on gays in the military, four women are challenging the ban on women in combat. their lawsuit claims the 1994 rule keeping them out of ground combat also unfairly blocks them from promotion. it comes as officers are on aer is survey, asking if women would be a distraction in combat operations. >>> and police in new york, say a bus driver
FOX
Nov 28, 2012 5:00am PST
ceos. he is pushing his plans for averting that fiscal cliff. they are pushing congress to renew tax cuts before they expire by the end of this year. what they are saying about the president's campaign style approach to deal with this looming crisis. >>> and 400,000 californians are carefully watching this fiscal drama and that's because emergency benefits are due to expire unless congress agrees to an extension. here they are noticing possible loss of benefits are being mailed out this week. >>> let's check in with tara in for sal castaneda, it could be a sticky commute with the rain. >>> yes, we want to make sure you give yourself enough time today and right now if we take a look outside, this is a look at the east shore freeway as you drive towards the mcarthur maze, and as we look at the bay bridge toll plaza folks are headed to san francisco and they are not experiencing any delays. finally a look at 280 in san jose, traffic is looking good in both directions, here is steve. >>> well, we have a little bit of a lull before the system comes in and if you leave now you might beat the bu
FOX News
Nov 28, 2012 1:00pm PST
fiscal cliff which is 33 days away. >> typical middle class family of four would see the income taxes go up by $2,200, out of people's pockets. that means less money if bying groceries, less money if filling prescriptions, less money if bying diapers. it means a tougher choice teen paying the rent and paying tuition and middle class families cannot afford that right new. >>neil: my next guest had a thing to say about the diapers comment but it is not credible, middle class business owners scott and when -- wendy. you would both be affected. >>guest: it is disturbs. i built this business starting in the garage. we do window and screen doors and i have 14 employees, seven trucks, we are trying to help the public and we are trying to look at expanding our business and i could see adding another four employees to the roles but we are right on the cusp of that that zone of taxation and it makes you wonder, i know i will meet with the tax guy and he will say you need to think twice. don't expand. this is not the american way, i have my declaration and constitution because this is what drives m
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